ADESA Analytical Services Provides Data, Expertise To U.S. Bureau of Economic Analysis.Business Editors/Automotive Writers INDIANAPOLIS--(AutomotiveWire)--June 18, 2002 ADESA Corp.'s Industry Relations Analytical Services department is providing monthly wholesale used vehicle price trends and other information to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bureau of Economic Analysis (BEA BEA - Basic programming Environment for interactive-graphical Applications, from Siemens-Nixdorf. ). This information, which ADESA is providing at the BEA's request, will be used as part of the BEA's efforts to estimate various components of Gross Domestic Product. The BEA is an agency of the U.S. Department of Commerce. "Our immediate goal is to improve the quality and timeliness of our estimates of dealer margins on used cars and light trucks," said Ralph Morris, an economist with the BEA. "This in turn will help us better estimate national used car and light truck purchases, which are an important part of the personal consumption expenditures portion of GDP GDP (guanosine diphosphate): see guanine. ." ADESA's vice president of industry relations and analytical services, Tom Kontos, will also provide analytical support to the BEA. "There are always nuances to used vehicle data that those of us in the vehicle remarketing industry are familiar with, but which may not be apparent from looking at an index or averages," said Kontos. "ADESA is very excited to be providing this type of input to as important a national economic information source as the BEA." ADESA Analytical Services publishes the annual report, Global Vehicle Remarketing and the quarterly report, Pulse. These publications cover the $78 billion vehicle remarketing industry and the $390 billion used vehicle market in the U.S. and Canada. Copies of these reports may be obtained by contacting ADESA's Industry Relations and Analytical Services department at 1-800-923-3725, extension, 4251 or by visiting www.adesa.com/kontoskorner. Headquartered in Indianapolis, Ind., ADESA Corp. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of ALLETE, Inc. (NYSE NYSE See: New York Stock Exchange :ALE). ADESA, through its network of subsidiary companies, operates 52 wholesale vehicle auctions and six heavy-duty commercial vehicle auctions strategically located across the United States and Canada. In addition, ADESA's network of companies operates several other related businesses in the vehicle remarketing industry including ADESA Impact total loss recovery services (with 24 auction locations), ComSearch professional claim outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services for the property and casualty insurance industry, Automotive Finance Corp. (AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. ) dealer financing, Micro 21 dealer software, AutoVin inspection services, PAR North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. remarketing services, and ADESA Importation Services (AIS). For further information on ADESA Corp., call 1-800-923-3725 or go to www.adesa.com. The statements contained in this release and statements that ADESA may make orally in connection with this release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual results may differ materially from those projected in the forward-looking statements. The forward-looking statements involve risks and uncertainties and investors are directed to the risks in documents filed by ALLETE,Inc., ADESA Corp.'s parent company, with the Securities and Exchange Commission. |
|
||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion